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Iron ore price jumps 5% after Vale suspension

Sep 30, 2020

Source: https://www.mining.com/iron-ore-price-jumps-5-after-vale-suspension/

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S11D Eliezer Batista Complex. Image: Vale

Iron ore prices surged on Wednesday on signs the Chinese economy continues to pick up pace and Vale, the top miner of the steelmaking raw material announced an output halt.

According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were changing hands for $123.47 a tonne on Wednesday, up 5% from Tuesday’s peg.

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S11D Eliezer Batista Complex. Image: Vale

Iron ore prices surged on Wednesday on signs the Chinese economy continues to pick up pace and Vale, the top miner of the steelmaking raw material announced an output halt.

According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were changing hands for $123.47 a tonne on Wednesday, up 5% from Tuesday’s peg.

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